In that case a deed could be issued to you only when the terms of the land contract are paid off.

Although there are tons of risks and problems associated with them, many which are just general issues in real estate, don't be too fearful.

You are in violation of at least half a dozend rules plus there are moral and ethical issues.

Margins look good on this....Id say your main issue is the time investment.

How do you deal with those type of issues?

So, the basis would still be your adjusted basis, no step up to FMV.In general, the IRS doesn't respect "self-dealing", which is selling assets to yourself, a family member, or a company you control.These issues get complicated, which I love because I get to charge my time helping clients through these issues!  

@William Hochstedler, is correct in that it is a issue of supply and demand.  

I don't see funding as an issue for you, especially since you're wanting to buy with cash.

And talk about predatory, points on my sale price, not good.As to originations, there are many RMLOs out there who think they are compliant in doing seller financing, actually not from several fronts, their employer/broker must have such loans in their charter, insured and bonded lenders aren't covered with equity funded notes, and if they do any volume they may have loan concentration issues of high cost mortgages, this goes much deeper than what our newish loan originator testing goes to that they learn and it doesn't even go into underwriting!  

You become immune from employment issues and the PM takes that responsibility.In Calif, 16 or more units REQUIRE an on site, 24/7 manager by law.